L3VLUP
Quarter end
31 Dec 2025
the date the book describes
Filed
27 Oct 2026
latest of these filings; the earliest 22 Jan 2026
Managers listing it
36
at least, of 95 tracked, among listed positions
Comparable managers
92
filed both Q3 2025 and Q4 2025; 23 listed it in both
Shares listed
51,449,229
combined, among listed positions
Reported value
$9.5bn
combined, at the quarter end

Among the 92 comparable managers: 19 buyers (opened or added shares) and 24 sellers (trimmed or exited), at least, among listed positions. Their net change in shares was +15,103,521.

Managers listing PANW in Q4 2025

Share of 13F value is the position’s reported value over everything the manager reported that quarter. The share change is against Q3 2025, and only where both filings list the position. A rise in value with no rise in shares is the price, not buying.

36 of 36 holders

ActionFiling
Invesco Ltd21,508,000$4.0bn0.37%Added+16,218,98919 Feb 2026 (the filing on sec.gov)
Fidelity (FMR LLC)8,138,673$1.5bn0.08%Added+539,42517 Feb 2026 (the filing on sec.gov)
T. Rowe Price Associates Inc4,337,468$799m0.09%Trimmed-214,56217 Feb 2026 (the filing on sec.gov)
Citadel Advisors LLC3,266,843$602m0.09%Added+737,46417 Feb 2026 (the filing on sec.gov)
AQR Capital Management LLC2,574,751$474m0.25%Added+478,20917 Feb 2026 (the filing on sec.gov)
Capital Research Global Investors1,996,535$368m0.07%Trimmed-66,45311 Feb 2026 (the filing on sec.gov)
Marshall Wace LLP1,943,109$358m0.33%Added+229,14113 Feb 2026 (the filing on sec.gov)
AllianceBernstein LP1,648,943$304m0.10%Trimmed-41,86417 Feb 2026 (the filing on sec.gov)
Neuberger Berman Group LLC970,223$179m0.13%Added+27,65327 Oct 2026 (the filing on sec.gov)
Renaissance Technologies LLC908,500$167m0.26%Added+840,00012 Feb 2026 (the filing on sec.gov)
Susquehanna International Group LLP840,157$155munder 0.1%Added+30,63017 Feb 2026 (the filing on sec.gov)
Janus Henderson Group Ltd738,433$136m0.06%Trimmed-40,03217 Feb 2026 (the filing on sec.gov)
Jane Street Group LLC642,803$118munder 0.1%Trimmed-1,967,26312 Feb 2026 (the filing on sec.gov)
Wellington Management Group LLP636,632$117munder 0.1%Added+8,97417 Feb 2026 (the filing on sec.gov)
Holocene Advisors LP243,734$45m0.09%Trimmed-171,83617 Feb 2026 (the filing on sec.gov)
D. E. Shaw & Co.172,886$32munder 0.1%Trimmed-20,04417 Feb 2026 (the filing on sec.gov)
Man Group PLC163,592$30m0.05%Trimmed-171,99217 Feb 2026 (the filing on sec.gov)
Verition Fund Management LLC131,238$24m0.09%Trimmed-53,73213 Feb 2026 (the filing on sec.gov)
Winton Group Ltd76,681$14m0.49%Newnew11 Feb 2026 (the filing on sec.gov)
Millennium Management LLC74,723$14munder 0.1%Added+23,14517 Feb 2026 (the filing on sec.gov)
Walleye Capital LLC70,259$13munder 0.1%Added+55,19213 Feb 2026 (the filing on sec.gov)
Balyasny Asset Management LLC64,154$12munder 0.1%Added+37,00617 Feb 2026 (the filing on sec.gov)
Tudor Investment Corp57,316$11munder 0.1%Newnew17 Feb 2026 (the filing on sec.gov)
Woodline Partners LP44,461$8.2munder 0.1%Added+28,29417 Feb 2026 (the filing on sec.gov)
Acadian Asset Management LLC35,529$6.5munder 0.1%Trimmed-254,16510 Feb 2026 (the filing on sec.gov)
Page 1 of 2

Largest increases and reductions, by shares

Q3 2025 to Q4 2025, among managers that listed it in both quarters or opened it.

Increases

Reductions

New positions and exits

At least these many: a manager is shown exiting only where its own filing shows the position gone.

Ownership over time

Every quarter on file. A quarter-end value moves with the price as well as with the shares held; buyers and sellers count comparable managers, by shares.
20 in Q3 2024 to 27 in Q2 2026

Tracked managers listing it, at least.

010203040split2014201620182020202220242026
the quarter shown share split complete books; unmarked quarters rest on listed positionsClick a quarter to open it.
PANW by quarter
QuarterHoldersReported valueBuyersSellers
Q2 20137$402mn.a.n.a.
Q3 20134$417mn.a.n.a.
Q4 20134$863mn.a.n.a.
Q1 20149$1.1bnn.a.n.a.
Q2 201414$1.1bnn.a.n.a.
Q3 201416$1.1bnn.a.n.a.
Q4 201410$1.7bnn.a.n.a.
Q1 201518$2.3bnn.a.n.a.
Q2 201518$2.4bnn.a.n.a.
Q3 201518$2.2bnn.a.n.a.
Q4 201518$2.4bnn.a.n.a.
Q1 201618$2.3bnn.a.n.a.
Q2 201611$1.1bnn.a.n.a.
Q3 201612$1.7bnn.a.n.a.
Q4 201611$1.1bnn.a.n.a.
Q1 201713$799mn.a.n.a.
Q2 201714$1.2bnn.a.n.a.
Q3 201714$1.3bnn.a.n.a.
Q4 201716$1.4bnn.a.n.a.
Q1 201815$1.8bnn.a.n.a.
Q2 201817$2.1bnn.a.n.a.
Q3 201822$2.6bnn.a.n.a.
Q4 201820$1.7bnn.a.n.a.
Q1 201925$2.6bnn.a.n.a.
Q2 201916$1.8bnn.a.n.a.
Q3 201915$2.0bnn.a.n.a.
Q4 201917$2.9bnn.a.n.a.
Q1 202012$1.6bnn.a.n.a.
Q2 202022$2.6bnn.a.n.a.
Q3 202015$2.0bnn.a.n.a.
Q4 202023$4.0bnn.a.n.a.
Q1 202121$3.6bnn.a.n.a.
Q2 202120$3.9bnn.a.n.a.
Q3 202126$4.6bnn.a.n.a.
Q4 202121$5.4bnn.a.n.a.
Q1 202229$6.3bnn.a.n.a.
Q2 202232$5.0bnn.a.n.a.
Q3 202229$4.8bnn.a.n.a.
Q4 202221$3.4bnn.a.n.a.
Q1 202329$5.7bnn.a.n.a.
Q2 202332$6.9bnn.a.n.a.
Q3 202329$7.1bnn.a.n.a.
Q4 202325$6.8bn1116
Q1 202423$4.9bn815
Q2 202417$5.1bn129
Q3 202420$4.9bn148
Q4 2024 (split)23$5.3bn41
Q1 202524$5.6bn179
Q2 202525$6.9bn178
Q3 202530$7.1bn1713
Q4 202522$9.0bn1924
Q1 202621$7.6bn1723
Q2 202627$21.7bn2019

Compare with…

Holders over time, buyers and sellers, and the managers holding both, side by side for up to four stocks.

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How much of the picture this is

A 13F is a manager’s long US-listed equity book at a quarter end, filed up to 45 days later. It shows no shorts, cash, bonds or performance, and it is never today’s portfolio. Large books are listed to their largest positions, so a manager missing from this table may still hold a small position below that line. These are 95 tracked managers, not the institutional market.

Which funds own PANW, latest filings →Back to the 13F Explorer →